Gardai swooped on six members of an illegal money lending ring from the same family as part of an organised crime probe.

The arrests were carried out in the Ardmore Park and Ballybeg estates of Waterford city this morning.

Officers detained three men and three women from the same extended family who have bought up to 10 houses for cash despite being on social welfare.

A source said: “We believe they are illegal loan sharks and extorting money from people as well, along with being involved in the sale of drugs and then dealing in the sale and supply of tobacco.”

The arrests followed a search operation earlier this month which involved the Criminal Assets Bureau, regional armed support unit and local gardai.

Up to 30 officers were involved in yesterday’s activity which saw the men and women, aged from their 20s to 50s, detained and brought to Garda stations in Co Waterford for questioning.

They can be held for up to seven days under organised crime legislation. It’s understood the six suspects are at the centre of an illegal moneylending ring which has been operational for several years.

The mob are also allegedly involved in extortion, drug-dealing and the sale of counterfeit or smuggled tobacco.

Detectives have been examining the lifestyles and possessions of the suspected gang members, who are all part of an extended family or are associates of that family, in recent months.

The searches which were carried out earlier this month yielded documentation as well as around €20,000 in cash, a firearm, drugs and property suspected of being stolen.

It’s believed the gang are giving loans to vulnerable people at extortionate rates and holding on to children’s allowance and social welfare cards to force victims to make repayments.